All Forum Posts by: John Cantu

Hey @John Hixon, I'm actually looking for properties to buy. I'd like to do quite a more flips this year and increase my rental portfolio. 

Hey everyone, 

I'm looking for some more wholesalers in the Houston area to work with. It seems all my wholesaler partners are either no longer searching for deals or keeping them for themselves. If you're a wholesaler please let me know! Thanks. 

@Tom Cooper thank you. I actually was referring to private money lenders for what they are. I am familiar with several hard money lenders, jet lending is one I am familiar with. The issue I have is that many of these private lenders don't typically lend, but they have money to lend. I was hoping someone could point me in the direction of some individuals who have funds to lend but also have experience with investors. I don't have experience with private money lenders and because of that I fear I would not be able to structure the terms as I should. 

Hey everyone, 

I'm looking for some reputable private money lenders in the Houston area. I have asked friends and family and have had some luck but would love to work with some lenders who have had experience with investors. If you know of anyone looking for future opportunities please let me know. Thanks!

John

Hey BP,

I'm really wanting to start raising private money but I'm curious as to the terms private money lenders set.     I know that it varies but I'm really curious to know the average term of the private money loan. Is it 6,12,18 months? Is any longer than that not typical? 

Do priavte money lenders expect monthly payments every time or are there scenarios where they invest and wait til the maturity date to get back their money? Is balloon financing ever used? 

So many questions, I know. But I'm at the point where I'd like to borrow from private lenders but I want to make them an offer that is appealing for them and still feasible for me. Thanks a ton! 

John 

Thanks, @Ned Carey. I'm familiar with the need for seasoning and that they probably would only loan up to 80 percent, I gotta give credit to @Brandon Turner for sharing that information with me. 

I do plan on buying at deep discounts and rehabbing. I just want to make sure that a bank will refinance after the seasoning period and of course given my credit and what not. 

@John Thedford, what reasons (besides not qualifying) would there be for a bank to not want to refinance? 

Thanks, @Jason Hirko, I knew it had to be something like that, but not having dealt with private money lenders before, I was unclear how it would be structured with interest to the investors.

Hey everyone, 

I've been wanting to approach some private money lenders but I want to make sure I understand fully, how they'll be paid back. If I get a private money loan for the full amount of the purchase price of a property, will I have any problem refinancing with a back? I guess my question is, in the eyes of a bank, won't it look like already own the property? 

Thanks 

I'm in need of a real estate attorney in Houston/Texas. I reached out to a couple attorneys and they have not responded. Anyone know any good attorneys?